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Look for Shares of Aerohive Network to Potentially Rebound after Yesterday's 2.51% Sell Off

By James Quinn

Aerohive Network (NYSE:HIVE) traded in a range yesterday that spanned from a low of $3.49 to a high of $3.55. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $3.54 on volume of 134,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Aerohive Networkhas traded in a range of $3.49 to $6.50 and are now at $3.49. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Aerohive Network on January 17th, 2018 by issuing a Downtrend alert when the shares were trading at $4.20. Since that call, shares of Aerohive Network have fallen 14.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders aerohive network

Ticker(s): HIVE